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Big Difference In Numbers

Thursday, 26 April 2018 05:22

Ernie Hardeman (Submitted)

The Auditor General's pre-election report is reporting a deficit of $11.6 billion for Ontario.

OXFORD COUNTY - The Auditor General's pre-election report it out, and it looks like the province has a larger deficit than was previously reported.

The Liberals budget highlighted a deficit of $6.7 billion, but the auditor general says it's actually around $11.7 billion.

Conservative Oxford MPP Ernie Hardeman says this is unacceptable.

"I was shocked at the impact their new way of keeping books is impacting the numbers. As the people of Ontario look at an auditor's report to see how the finances are being looked after, I was shocked to see that in fact they were almost 50 percent off on the numbers of projections of how much money they were spending more than they were taking in."

He adds the Liberal's Fair Hydro Plan would only make it worse.

"The government is borrowing the money to reduce the rates today but after the election, not only will everyone have to start paying the full rate of hydro again and they'll also have to pay off the money that was borrowed in the short term; they'll have to pay that off in the long term."

The report by Auditor General Bonnie Lysyk says the Liberals didn't properly account for the exact financial impact of the Fair Hydro Plan. It also says the Liberals improperly treated revenues and expenses related to two provincial pension plans.
 

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